ARK Innovation ETF - Unable to purchase

[VT11]

I was trying to purchase some shares in ARK Innovation ETF (ARKK). When I click the approval button I get a message saying, This is a complex instrument, currently not eligible to trade on your account. 

Does anyone knows the issues around purchasing this ETF, and how to address this. 

Thanks

[Tigerruss]

i have the same issue.  in fact i purchase arkk previously but have tried recently to buy again and it now states as posted above that i cannot as its a complex instrument.  Anyone explain

[Guest Archangel]

Same problem. I have 3 ARK ETFs in my account inc. ARKK but can't buy more of any of them. Really annoying.
Don't understand why an ETF would be classed as complex.
It can't be because they are managed ETFs as they were managed when I bought them before.

[ISA_girl]

As far as i know Ark has not provided the additional documentation needed to be eligible to sell under european regulation. For this reason Ark ETFs are not allowed for purchase by european accounts. U can purchase if you have a US account though

[alam1]

This does not help u customers. ARK are one of the upcoming providers. IG please pursue with them to get compliance and make this available to EU / UK customers

Edited March 19, 2021 by alam1

[Ineluctable]

Hargreaves Lansdown are also unable to deal with US ETFs.  I asked why and they replied:

"We have made the decision not to offer US ETFs on our platform due to Key Investor Documents (KIDs) being unavailable with our data providers.

Certain investments, including ETFs, have been identified as Packaged Retail and Insurance-Related Investment Products (PRIIPs). This regulatory classification is aimed at protecting consumers, ensuring that they have all the required information available to them about an investment product, prior to making an investment decision.

Investment products classified as a PRIIP need to provide a KID to our third party data provider in order to be added to our platform. This is the case for all US and Canadian incorporated ETFs and is outside of our control. We’re therefore unable to place any purchases in these securities, or offer them on our platform."

I assume it is the same for IG.